Lyon´s owner denies setting €100million target for transfers

Lyon are not required to sell players for €100million before the summer transfer window ends, the French club’s owner John Textor said.

The club have endured a tough start to the season so far, failing to win either of their games without scoring a goal.

Their first home game of the season saw them lose 2-0 to Monaco, with Lyon only attempting one shot in that game, their lowest tally in a single Ligue 1 game since Opta began to collect this data (2006-07).

In their first match against Rennes, a 3-0 defeat, they registered 16 attempts, though only managed two on target compared to their opponents’ eight.

On Thursday, the French newspaper L’Equipe reported that Lyon had put the majority of their squad on the transfer market to raise €75m to balance their budget and meet financial sales targets, having spent around €134m since June, more than any other team in France.

“We do not have sales targets, and we are not required to sell €100million of players as there may be other ways to bring in revenues to maintain financial sustainability,” Textor told Reuters.

Full-time.

0-2 #OLASM pic.twitter.com/hKUd0Rzy6j

— Olympique Lyonnais (@OL_English) August 24, 2024

Textor is the majority stakeholder of Lyon through Eagle Football Group, a holding company listed in Paris. The French side was acquired by Eagle Football in 2022, which holds 87.7% of the share capital.

The group posted a yearly revenue of €368.3m in June, an increase of 78% from the previous year, helped by events and an uptick in player trading.

Textor also said that they expect to sell maybe two more players before the transfer window closes on Friday, acknowledging that it has been a slow window in that regard and that Lyon may have missed their normal budget in the off-season.

“That’s certainly true, but that does not mean that we are required to hit that budget. If it’s a slow transfer window, then we hold players until the next window. It’s as simple as that,” he added.

The American businessman, who partly owns Botafogo in Brazil, RVD Molenbeek in Belgium and Crystal Palace in England, indicated that there is always “flexibility in how to create cash flows”.

“Every company in France has the same challenge. At the end of the year, negative equity has to be restored. It’s no different in football,” he said.